How do I calculate basis for shares sold under the Taxpayer Relief Act of 1997?
The Taxpayer Relief Act of 1997 created a second mid-term share category. Subsequent tax legislation in 1998 repealed the second mid-term share category effective January 1, 1998. If you sold shares in 1997 under this method, no guidance on how to calculate basis using this method has been issued by the IRS or Treasury. Please contact the IRS or your tax advisor for instructions on calculating cost basis using average cost-double category as a cost basis method.
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